Air Lease Correlations
| AL Stock | USD 46.55 0.01 0.02% |
A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Air Lease moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Air Lease moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Air Lease Correlation With Market
Very weak diversification
The correlation between Air Lease and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Air Lease and DJI in the same portfolio, assuming nothing else is changed.
Air |
Moving together with Air Stock
Moving against Air Stock
| 0.54 | FTAIO | Fortress Transportation | PairCorr |
| 0.36 | HEES | HE Equipment Services | PairCorr |
| 0.37 | ALTG-PA | Alta Equipment Group | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Air Stock performing well and Air Lease Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Air Lease's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AAN | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ALTG | 2.96 | (0.36) | 0.00 | (0.27) | 0.00 | 6.51 | 15.90 | |||
| MGRC | 1.12 | (0.03) | 0.00 | (0.14) | 0.00 | 2.75 | 7.16 | |||
| HRI | 2.47 | (0.69) | 0.00 | (0.59) | 0.00 | 3.26 | 17.97 | |||
| TRTN | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| HEES | 3.62 | 1.38 | 0.72 | 0.67 | 1.07 | 1.53 | 107.70 | |||
| GATX | 1.02 | 0.01 | 0.00 | (0.08) | 0.00 | 2.09 | 7.23 | |||
| PRG | 2.16 | (0.71) | 0.00 | (1.14) | 0.00 | 2.65 | 31.87 | |||
| CTOS | 2.67 | 0.01 | 0.00 | (0.09) | 0.00 | 5.46 | 23.60 | |||
| TGH | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |